Corrections Corp. down after riot

WilliamSpain

CHICAGO (CBS.MW) -- Shares of Corrections Corporation of America
CXW, -2.77%
slipped Wednesday following a riot at one of the private prison operator's facilities in Colorado.

The disturbance, at the medium-security Crowley County Correctional Facility, was eventually quelled with the intervention of state corrections personnel, according to the Associated Press. But it resulted in the hospitalization of several inmates and the destruction of one living unit and extensive damage to four others.

Getting the Colorado facility back under control ultimately involved 100 state corrections officers. The prison currently has about 1,100 inmates from three Western states, the AP reported.

Corrections Corp. stock was off 2 percent at $38.84. The company, with revenues of about $1 billion last year, is the country's largest operator of privately run lockups.

The potential financial impact to Nashville, Tenn.-based Corrections Corp. was not immediately clear. For-profit jails typically have to reimburse governments when intervention is necessary, although a company spokeswoman said "every contract is unique."

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